Saudis to Buy Larger Heathrow Stake in New £3.3 Billion Deal
Planes queueing to take off at Heathrow airport in London.
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Saudia Arabia’s wealth fund stands to gain a bigger stake in London Heathrow Airport alongside its bidding partner, French private equity firm Ardian, after more shareholders in the London hub agreed to offload their holdings.
The Public Investment Fund and Paris-based Ardian will together now own 37.6% of the hub as part of a £3.26 billion ($4.26 billion) deal, according to a statement Friday. The two companies had previously planned to buy the 25% stake owned by Spanish infrastructure firm Ferrovial SE, Heathrow’s biggest shareholder.